BOJ Member Warns Japan Economy Is So Fragile, It Could Sink Into Recession Due To “Weather”
by Tyler Durden
ZeroHedge.com
6/2/2016
But the punchline was the following: “Japan’s economy, with its potential growth rate of nearly 0%, is so fragile as to be liable to post negative growth even because of trivial external factors such as weather conditions.”
But of course we already knew that: recall that the US’ own BEA applied a second seasonal adjustment to last year’s Q1 GDP data to smooth out the “weather impact.” Which, however suggests that the US economy is just as bad as that of Japan, one where the weather alone can push the economy into a recession. At least Japan has not yet figured out that there is a seasonal adjustment for that.
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